Innoveren Scientific, Inc.: debt financing — H-CYTE raises $135,000 in convertible note offering with warrants

Innoveren Scientific, Inc.

Sold $135,000 of 8% convertible promissory notes to three investors under SPA.
Notes convertible at 20% discount to qualified offering price; $100k matures 1 year or qualified closing, $35k matures 60 days.
Warrants for 20% of conversion shares at $2.00 exercise price, 5-year term.
Part of up to $1M offering; further closings through April 30, 2023 (extendable to June 30).
Issued under Section 4(a)(2) and Rule 506(b) exemption.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Innoveren Scientific, Inc. incurred convertible notes of $135,000 with three investors at 8% per annum maturing earlier of (i) one year from issuance; or (ii) upon the closing of a qualified offering.

Instrument: convertible notes
Principal: $135,000
Counterparty: three investors
Rate: 8% per annum
Maturity: earlier of (i) one year from issuance; or (ii) upon the closing of a qualified offering
Event: incurrence

Exact text from the filing

On April 12, 2023, H-Cyte, Inc., (the “Company”) and three investors entered into a Securities Purchase Agreement (the “SPA”), whereby, the Company sold and issued to the certain investors, an aggregate of one hundred thirty five thousand dollars ($135,000.00) of the Company’s convertible promissory notes

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Innoveren Scientific, Inc. entered into Securities Purchase Agreement with three investors valued at $135,000.00 (effective 2023-04-12).

Action: entry
Agreement: notes offering
Counterparty: three investors
Value: $135,000.00
Effective: 2023-04-12

Exact text from the filing

On April 12, 2023, H-Cyte, Inc., (the “Company”) and three investors entered into a Securities Purchase Agreement (the “SPA”), whereby, the Company sold and issued to the certain investors, an aggregate of one hundred thirty five thousand dollars ($135,000.00) of the Company’s convertible promissory notes

View on SEC.gov

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Source: SEC EDGAR

accession 0001493152-23-012813

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